This is by far the most interesting thing I've seen
this year. It finally explains the black magic behind
our banking system which almost no one understands.
If you want to understand the world we live in and
who pulls the strings and why, you'd better take a
look! Also will show you how scary this whole
subprime mess really is. Until we all watch this
video we won't be able to fix the problems of the
world.

Good compendium of countries that are dumping the
dollar. Unfortunately this is only the first salvo.

Excerpt:

The foreign exchange markets are not solely
about exchange rates. They are about values, smooth
flowing of international trade, about trust and
reliability. The sight of the $ falling over a long
period of time, with bounces and recoveries that
don't change the downward trend is far more than
simply a drop in value!The $ is steadily weakening,
but more than a drop in the $' international value
is happening here. The loss of confidence is in the
$ is accelerating each time it slips one or more
percent on a persistent basis, with small short
recoveries being seen in the midst of this decline.
How important is this loss of confidence? Critical
for it precedes policies, which long-term will
lessen the role of the $ to one of the world's top
5 currencies.Growing surplus holders don't want to
dump the $ for fear of losing value in the
remaining ones in their portfolio, but don't think
that a dumping of the $ is what it will take to
remove it from the position of principal global
currency. All realize that it is the knowledge of
the declining value of the $ that will bring on a
major toppling of that currency. So it is a choice
of a steady ‘controlled' fall or a steep decline to
disaster. To get perspective on the global scene
what is the thinking out there?

...Not to say they want to. It wouldn't do
them much good. But it should be common by knowledge
by now that they easily could. This article
is the most comprehensive I've read on the topic.

Excerpt:

China has several economic “weapons” at its
disposal for countering the US, ranging from the
manipulation of its currency to the diversification
of its burgeoning stock of forex reserves. It also
has several less blunt options to choose from, such
as enabling Chinese companies to compete more
directly and effectively with US companies, and
opposing the US in securing a domestic energy
supply. On all of these fronts, the US is
essentially being held hostage, since it has become
so dependent on China as the world’s factory.
Ultimately, it seems unlikely that China will
deliberately butt heads with the US unless it is
first provoked, but America should nonetheless be
on its guard, since its economy hangs in the
balance.

The days of the dollar as the world's “reserve
currency” may be drawing to a close. In August,
foreign central banks and governments dumped a
whopping 3.8% of their holdings of US debt. Rising
unemployment and the ongoing housing slump have
triggered fears of a recession sending wary foreign
investors running for the exits. China, Japan and
Taiwan have been leading the sell off which has
caused the steepest decline since 1992.

I did mention I sold all my stocks and took the
dollars and moved them into Czech crowns last month.
I would recommend anyone else to do the same. I wish
I had done it 7 years ago. I would have more than
doubled my money.

Excerpt:

Speculators, investors, and central bankers have
figured out that the US government and the Bernanke
Fed will not protect the dollar - not when millions
of Americans are having trouble making their
mortgage payments. The US money supply is
increasing - nearly five times faster than GDP
growth. And now, fearing a Japan-style deflation,
the Fed is likely to cut rates later this month.The
Chinese have one of the largest dollar piles in the
world.“Is China quietly dumping US Treasuries?”
asks Ambrose Evans-Pritchard in the English
press.“A sharp drop in foreign holdings of US
Treasury bonds over the last five weeks has raised
concerns that China is quietly withdrawing its
funds from the United States, leaving the dollar
increasingly vulnerable.”